"The monthly swings in job openings are wild and
subject to substantial revision, so the key points here are that
the level of the job openings is extremely high but appears
to have stopped rising in recent months. Still, the numbers
remain consistent with very rapid payroll growth," he added.

Additionally, the Fed was likely looking for both the quits rate
and hires to rebound in February, consistent with that month's
strong employment report,Deutsche Bank's
Joseph LaVorgna wrote in a note to clients ahead of the
report.

"In Yellen’s view, the former represents business’
confidence with respect to the demand outlook, while the
latter is an indication of rising worker confidence
about the labor market. In fact, the quits rate has
historically been a leading indicator of wage inflation, which is
key with respect to income growth," LaVorgna noted
ahead of the report.